Insilico Medicine, a Hong kong-based AI-driven drug discovery company, announced that it raised an additional $35 million in Series D, for a total of $95 million in aggregate.
The additional funding was led by Prosperity7 Ventures, the venture arm of Aramco. Other investors in the round include Insilico founder and CEO Alex Zhavoronkov, joined by previous investors BHR Partners, Warburg Pincus, B Capital Group, Qiming Venture Partners, Deerfield, and Wilson Sonsini Goodrich & Rosati, Bold Capital Partners, and Pavilion Capital also participated in the round.
The latest funding infusion will allow the company to accelerate its internal programs and utilize its proven end-to-end AI platform to uncover more novel therapeutics for hard-to-treat diseases. Just recently, it announced promising preclinical candidates for both COVID-19 and related variants and ALS disease.
Company: Insilico Medicine, Inc.
Raised: $35.0M
Round: Series D ext.
Funding Month: Aug 2022
Lead Investors: Prosperity7 Ventures
Additional Investors: Alex Zhavoronkov, BHR Partners, Warburg Pincus, B Capital Group, Qiming Venture Partners, Deerfield, Wilson Sonsini Goodrich & Rosati, Bold Capital Partners, and Pavilion Capital
Company Website: https://insilico.com/
Software Category: AI-driven drug discovery
About the Company: Led by Alex Zhavoronkov, Ph.D., Founder, and CEO, Insilico Medicine is a clinical-stage end-to-end artificial intelligence (AI)-driven drug discovery company that connects biology, chemistry, and clinical trials analysis using next-generation AI systems. The company has developed AI platforms that utilize deep generative models, reinforcement learning, transformers, and other modern machine learning techniques to discover novel targets and design novel molecular structures with desired properties. Insilico Medicine is delivering breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, immunity, central nervous system diseases, and aging-related diseases. Insilico Medicine is an artificial intelligence company headquartered in Hong Kong, with R&D and management resources in the USA, Belgium, Russia, UK, Taiwan, and China sourced through hackathons and competitions.
Source: https://www.linkedin.com/feed/update/urn:li:activity:6963480550242217984/ https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker